Monday, July 26, 2010

Does exxon mobil have to pay any taxes on offshore and oversea projects? What about the oil they ship to USA?

Or is the free trade agreement in affect for them? Was it put into affect for EXXON MOBIL?Does exxon mobil have to pay any taxes on offshore and oversea projects? What about the oil they ship to USA?
Do what Exxon pay taxes


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I thought that a company had to be American to pay taxes


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They only have offices in America America don't make any thing anymore


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It either comes from China some Asian country or


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A country called


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OPEC


.Does exxon mobil have to pay any taxes on offshore and oversea projects? What about the oil they ship to USA?
ExxonMobil pays taxes on everything. Anything that is offshore in US waters is taxed as a royalty for being allowed by the government to drill there. Projects overseas are taxed by the host government in the form of a royalty. The US government taxes everything that ExxonMobil does since it is an American company. The government imposes a corporate windfall tax of 60% on all of the company's profits. It funny that Exxon only makes a 10% profit on what they invest, but over half of it goes to the government since they claim ExxonMobil makes ';windfall profits'; aka too much money. ExxonMobil pays more taxes than some states.
Exxon pays huge taxes all over the world. They pay about 60% tax to the state of Alaska not including 100s of millions in leasing land. Exxon keeps making record profits despite these very high taxes because of the volume of oil they sell. Usually they make about a 10% profit which is very modest in the world of business it's just they are the biggest and sell more than anyone else so they make a lot of money. But they spend a lot on environmental issues, government regulations, permits, leasing, production, engineering, development and exploration.
Yes to offshore and overseas projects.





No to oil imported into the US, atleast not directly.





They do pay tax's when they refine that oil into gasoline.





Exxon paid over 35 billion in Corporate tax's last year.





The record for the most tax's ever paid by any corporation.

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